25 bucks per month
They never told us
Anyone else use Swan?
Edit: I guess we can avoid the fee with auto withdrawal enabled. I guess I will find out in September
pull down to refresh
pull down to refresh
25 bucks per month
They never told us
Anyone else use Swan?
Edit: I guess we can avoid the fee with auto withdrawal enabled. I guess I will find out in September
@BlokchainB @siggy47
so many better options than swan
just dump them for any other exchange
Maybe I should play around with Kraken
River is Swan like
Hahahahah yup it’s true WTF swan! This is absolutely ridiculous
This must be for the Vault (multisig) product, which Unchained charges $250/yr for. Their original service is still free if you auto-withdraw, which is the only reason many went with Swan to begin with. They're bitcoin only and they encourage self-custody. Where did you clip that from?
App start up
Just updated iOS version and didn't see it. I'll definitely close my account if they start charging people without their knowledge.
I don't think Swan's a bad company. They've just made some bad decisions choosing partners, afaik.
apparently they sent an email with the new fee structure but I don't remember receiving this email in June or whenever
They seem disorganized. Strategically what is their unique selling proposition?
Maybe I should ditch them for River and Strike?
I have never had a problem with River.
Occasionally I send messages to support at strike because of an exchange rate discrepancy. Once they double charged me for a single deposit. That took 10 days to resolve. Fortunately no major issues since
Very disorganized. They lost a lot of customers by fooling around.
Imagine keeping 1 bitcoin on Swan😀
They have lost all credibility. Klippsten is a grifter.
Hahahaha
This is Swan Private access
Yeah but to avoid the fee you need to be a swan vault customer and turn on auto withdrawals or be swan private and open an IRA or have 1 BTC with them
I think they are desperate to raise revenues to command a higher valuation. They were trying to IPO right around the time they sued tether. Plus I got a feeling they are trying to compete with Unchained who clearly targets a higher net worth customer
They can’t compete with Unchained because it’s a completely different business imo
ChatGPT…
Yes — Swan’s own announcement says you can opt out of Swan Private entirely.
If you do nothing and stay in Swan Private after July 1, 2025, you will be charged $25/month, unless you meet one of the fee-waiver conditions (Swan IRA, Swan Vault, or ≥1 BTC in Swan Safe).
If you opt out: • You drop down to the Swan Premium tier, which has no monthly platform fee. • You’ll lose the dedicated advisor, priority support, and concierge-style service that Swan Private offers. • Your core account features, custody, and purchase capabilities remain intact.
It is basically a downgrade from “white-glove” to “self-service,” but avoids the $25 monthly charge.
If you want, I can give you the exact steps in your Swan dashboard to switch from Private to Premium before the fee kicks in.
This is what I got back in June:
But they don’t mention Swan Private which I accidentally opted into for 25 bucks per month
I must have ignored this email
Yeah they are trying to sweep all customers into their swan vault product and charge you 3 basis points for holding your UTXOs for you. Guess it make sense I know most savvy bitcoiners wait to hit a certain UTXO threshold before withdrawing
The Swan Private access is bs. Apparently I signed up for it in July when I accepted new terms and conditions. Once a year swan 🦢 sends this email. I am very close to closing my account. Maybe I will do nothing. Maybe I will lock my account.
Are you serious? Let me check my app
Swan banned me from withdrawing for some reason two years ago. I forget the details. I did finally manage to free my bitcoin. Then they stopped accepting NY resident accounts. A few months ago they sent me a friendly note saying that I could still buy bitcoin, but withdrawals are barred in my state.
I guess my account with zero balance still exists, but I will never use them again.
Can't blame you for that at all.
I know you have answered this question before. What are KYC options in NY? River? Kraken?
One thing I should have learned about Swan is ignore their calls to action such as signing their new rushed terms and conditions because their compliance team is playing catch up
I haven't checked for a while. It feels good to be out of that world. I think only coinbase and Gemini have a bit license.
I saw this on Telegram:
Same shit I would be dealing with. They sent me a "please come back " email that said I could buy bitcoin and that they hoped they would let me withdraw it soon. I agree the bitlicense is bullshit, but don't insult me.